Asian Markets Tumble, Follow Through On US Slide

Last Thursday, Intel (INTC) reported blowout earnings, the stock rose after hours, and everything was looking good for the bulls.

But on Friday morning, JPMorgan (JPM) reported decent (though mixed) earnings, and the stock market sagged, with even Intel ending in the red.

Clearly, worries over the financial system trump signs of a real economic rebound.

And so after US losses, Asian markets are picking up the baton and trending lower in early action. Japan is taking the brunt of things, down about 1.3%. The broader MSCI Asia Pacific index is off a bit less than 1%.